Eastern Caribbean Currency Union

Abstract

Cover -- CONTENTS -- THE RECOVERY IS UNDERWAY, BUT RISKS ARE LOOMING -- A. Recent Developments -- B. Outlook and Risks -- MACROFINANCIAL POLICY DISCUSSIONS -- A. Robust Frameworks to Support Fiscal Consolidation -- B. Building Ex-Ante Resilience to Natural Disasters -- C. Strategy for Stability and Resolving Problems in the Financial Sector -- D. Competitiveness and Growth -- AUTHORITIES' VIEWS -- STAFF APPRAISAL -- BOXES -- 1. Fitting Fiscal Frameworks to Country Characteristics -- 2. The Benefits of Resilient Investment -- 3. Natural Disaster Insurance Financing -- FIGURES -- 1. Real Sector Developments -- 2. Tourism Developments -- 3. Monetary Developments -- 4. Financial Soundness Indicators -- 5. Credit Developments -- 6. Doing Business Indicators -- TABLES -- 1. Selected Economic and Financial Indicators, 2014-24 -- 2. Selected Economic Indicators by Country, 2014-24 -- 3. Selected Central Government Fiscal Indicators by Country, 2014-24 -- 4. Selected Public Sector Debt Indicators by Country, 2014-24 -- 5. Monetary Survey, 2014-24 -- 6. Summary Balance of Payments, 2014-24 -- 7. Selected Labor Force Indicators -- 8. Financial Structure, end-2017 -- 9. Financial Soundness Indicators of the Banking Sector 2010-2018 -- 10. Selected Financial Soundness Indicators by Country, 2010-2018 -- ANNEXES -- I. Implementation of Previous Staff Advice -- II. Risk Assessment Matrix -- III. External Assessment -- IV. Real and Financial Cycles in the ECCU -- V. Impact of US Shocks on the ECCU -- VI. Competitiveness in Tourism Markets -- VII. United Kingdom Overseas Territories-Anguilla and Montserrat -- CONTENTS -- RELATIONS WITH THE FUND -- CARTAC: CAPACITY BUILDING IN THE ECCU.